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Canadian Solar signs new solar cell deal with Gintech Energy worth $60 million
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Canadian Solar, Inc. has signed an annual solar cell supply contract
with long-term supplier Gintech Energy Corporation of Taiwan, expected
to cost $60 million and to be equivalent to between 17MW and 22MW in a
fixed price agreement. The new deal sees shipments start from Gintech
Energy in January 2008.
"We were able to secure this new contract on competitive terms due to our strong relationship with Gintech, which has been a valued partner of CSI since 2004,” remarked Dr. Shawn Qu, CEO of CSI. “At fixed pricing with scheduled delivery times, the contract provides added visibility into our supply channel to support our 2008 business plan. This is another example of our ability to achieve win-win relationships with companies across the solar value chain. The continuation of our collaboration with Gintech is in line with our long-term supply strategy, which includes direct purchasing from a selected number of long-term strategic cell suppliers in addition to our internal solar cell production."
